Commodity Market Report

Bulgaria downstream oil long-term outlook

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11 February 2019

Bulgaria downstream oil long-term outlook

Report summary

 Bulgaria's positive economic outlook continues to drive demand growth for transportation fuels. Oil product supply from the country’s sole refinery – LUKOIL’s upgraded Neftochim Burgas facility – exceeds domestic demand. This dominant position sustains the company's price-setting influence for the wholesale fuel market. However, high fuel prices relative to neighbouring countries have led to anti-competitive investigations, as well as tension between consumers, government and operators. The proposed Fuels Act amendment will require a high level of registered capital provided to the government, plus substantial investment in on-site storage from wholesale and retail companies to be compliant. We expect many small and independent players will struggle to obtain the capital required for this investment, potentially leading to further consolidation in an already concentrated market.

Table of contents

    • Market drivers
    • Outlook
  • Demand
    • Regulatory issues
    • Product quality
    • Trade balance 2010 - 2017
    • Fuels retailing
      • Volumes
      • Overall network development
      • International Oil Companies
        • LUKOIL
        • EKO (Hellenic)
        • Rompetrol
      • Independents
      • Network efficiency
      • Performance pacesetters in the retail market
      • Non-fuel retailing
    • Commercial Fuels
      • Motor fuels (gasoline and diesel)
      • Industrial/domestic gas oil
      • Aviation Kerosene
      • Heavy fuel oil
      • LPG
      • Lubricants
      • Bitumen
    • Key issues influencing gross fuel margins
    • Marketing gross fuel margins
      • Main products: annual average unit gross margins
    • Distribution of oil products
    • Oil product storage infrastructure
    • Crude oil delivery
    • Country crude slate overview
      • Refining overview

Tables and charts

This report includes 22 images and tables including:

  • Key demand indicators
  • Overall demand
  • Demand by product
  • Demand by sector
  • Demand: Table 2
  • Storage and distribution infrastructure
  • Trade: Image 1
  • Key trading countries/regions 2017
  • Gasoline - Net exporter
  • Jet/Kero - Net exporter
  • Diesel/Gasoil - Net exporter
  • Fuel oil - Net exporter
  • Main products: monthly unit gross margins 2012-2017
  • Infrastructure: Table 1
  • Crude input slate
  • Retail fuel volumes
  • Retail outlets by brand
  • Market shares
  • Market structure: Image 2
  • Network effectiveness ratio: ratio of share of fuel sales to share of sites
  • Margins: Table 1
  • Burgas refinery profile

What's included

This report contains:

  • Document

    Bulgaria downstream oil long-term outlook

    PDF 1.03 MB

  • Document

    Executive summary

    PDF 56.83 KB

  • Document

    Executive summary

    PDF 678.78 KB

  • Document

    Demand

    PDF 109.67 KB

  • Document

    Demand

    PDF 731.60 KB

  • Document

    Policy and regulation

    PDF 79.10 KB

  • Document

    Policy and regulation

    PDF 701.50 KB

  • Document

    Trade

    PDF 116.72 KB

  • Document

    Trade

    PDF 733.52 KB

  • Document

    Market structure

    PDF 166.23 KB

  • Document

    Market structure

    PDF 762.71 KB

  • Document

    Margins

    PDF 116.09 KB

  • Document

    Margins

    PDF 736.99 KB

  • Document

    Infrastructure

    PDF 330.61 KB

  • Document

    Infrastructure

    PDF 884.53 KB

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